Lear Provides Earnings Guidance for the Year 2013 and 2014
For 2014, the company is forecasting capital spending as a percentage of sales to decrease. For the year 2014, the company expects total company sales, core operating earnings and operating margins to all improve. At the midpoint of its 2014 guidance, sales are projected to increase by 7%, and core operating earnings are projected to increase by 12%. The effective tax rate in 2014 is expected to be approximately 30%. However, given the benefit of its tax attributes, the company expects the cash tax rate to be approximately 20%.